Alger Mid Cap 40 ETF (NYSEARCA:FRTY – Get Free Report) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 16,240 shares, a growth of 106.8% from the May 14th total of 7,853 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 17,557 shares, the short-interest ratio is presently 0.9 days.
Institutional Investors Weigh In On Alger Mid Cap 40 ETF
A number of institutional investors have recently modified their holdings of FRTY. Janney Montgomery Scott LLC acquired a new position in Alger Mid Cap 40 ETF in the 1st quarter worth about $204,000. NewEdge Advisors LLC acquired a new position in Alger Mid Cap 40 ETF in the 2nd quarter worth about $850,000. Whipplewood Advisors LLC raised its holdings in Alger Mid Cap 40 ETF by 6.8% in the 3rd quarter. Whipplewood Advisors LLC now owns 49,758 shares of the company’s stock worth $1,114,000 after purchasing an additional 3,162 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in Alger Mid Cap 40 ETF by 2.5% in the 4th quarter. Flagship Harbor Advisors LLC now owns 85,356 shares of the company’s stock worth $1,797,000 after purchasing an additional 2,064 shares during the period.
Alger Mid Cap 40 ETF Trading Up 3.4%
FRTY traded up $0.78 during midday trading on Monday, hitting $23.75. 5,994 shares of the company were exchanged, compared to its average volume of 33,577. The company’s 50 day simple moving average is $21.64 and its 200 day simple moving average is $21.15. The firm has a market capitalization of $148.68 million, a price-to-earnings ratio of 36.46 and a beta of 1.13. Alger Mid Cap 40 ETF has a 1-year low of $18.08 and a 1-year high of $24.02.
About Alger Mid Cap 40 ETF
The Alger Mid Cap 40 ETF (FRTY) is an exchange-traded fund that is based on the Russell Midcap Growth index. The fund is an actively-managed, non-transparent ETF that provides exposure to US mid-cap companies with growth characteristics. The fund utilizes the Precidian non-transparent model. FRTY was launched on Feb 26, 2021 and is managed by Alger.
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